Air T, Inc. Announces Final Distribution Date and Ratios for Alpha Income Preferred Securities and Warrants and 50% Common Stock Dividend

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[{"type":"text","content":" DENVER, N.C., June 10, 2019 /PRNewswire/ -- Air T, Inc. (NASDAQ: AIRT) (\"Air T\") announced today the final distribution date and distribution ratios for its previously announced issuance and distribution of (1) $4 million in face value of Alpha Income Preferred (AIP), a new 8% fixed income trust preferred security, and (2) warrants to purchase up to an additional $21 million in face value of AIP at an exercise price equal to 96% of face value. The distribution date will be Monday, June 10, 2019, and the AIP and warrants will be distributed pro rata to existing holders of Air T common stock as of the Record Date of June 4, 2019. For each share of Air T common stock held on the Record Date, Air T will distribute 0.792161 shares of AIP and 4.158844 warrants. Also on June 10, 2019, Air T is effecting a 50% common stock dividend (equivalent to a three-for-two stock split) to holders of the common stock as of the Record Date. \nThe AIP (symbol \"AIRTP\") and the warrants (symbol \"AIRTW\") will trade on the NASDAQ Global Market on a when issued basis on Monday, June 10, 2019 and will trade regular way commencing on Tuesday, June 11, 2019. Air T's common stock, which has been trading on the NASDAQ Capital Market, is changing its listing to the NASDAQ Global Market effective on Monday, June 10, 2019. The common stock will continue to trade under the symbol \"AIRT.\" Commencing on June 11, 2019, the common stock will trade ex dividend.\nThe offering of AIP upon exercise of the Warrants will be made only by means of a prospectus. Copies of the final prospectus relating to the offering, which is included in Air T's registration statement on Form S-1 (File Nos. 333-228485 and 333-228485-01) may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of the prospectus, when available, may be obtained for free from Katrina Philp, Chief of Staff, Air T, Inc., telephone (612) 405-5896, email [email protected].\nABOUT AIR T, INC.\nEstablished in 1980, AIR T, INC. is a powerful portfolio of businesses and financial assets, each of which operate independently yet interrelatedly. The Company's four core segments are: overnight air cargo, aviation ground support equipment manufacturing, aviation ground support maintenance services, and commercial aircraft asset management and logistics. Our ownership intere...

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